BlackRock Advisors LLC boosted its stake in MDU Resources Group Inc. (NYSE:MDU) by 90.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 635,534 shares of the company’s stock after buying an additional 302,573 shares during the period. BlackRock Advisors LLC owned 0.33% of MDU Resources Group worth $15,253,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDU. Norges Bank purchased a new position in shares of MDU Resources Group during the fourth quarter valued at approximately $33,673,000. Prudential Financial Inc. increased its position in shares of MDU Resources Group by 231.6% in the first quarter. Prudential Financial Inc. now owns 2,496,864 shares of the company’s stock valued at $48,589,000 after buying an additional 1,743,872 shares during the period. State Street Corp increased its position in shares of MDU Resources Group by 9.7% in the first quarter. State Street Corp now owns 15,317,653 shares of the company’s stock valued at $298,091,000 after buying an additional 1,348,586 shares during the period. Vanguard Group Inc. increased its position in shares of MDU Resources Group by 9.2% in the second quarter. Vanguard Group Inc. now owns 15,848,829 shares of the company’s stock valued at $380,372,000 after buying an additional 1,339,894 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of MDU Resources Group by 1,648.2% in the first quarter. Renaissance Technologies LLC now owns 971,150 shares of the company’s stock valued at $18,899,000 after buying an additional 915,600 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.
Shares of MDU Resources Group Inc. (NYSE:MDU) opened at 25.44 on Monday. The company’s market cap is $4.97 billion. MDU Resources Group Inc. has a 1-year low of $15.58 and a 1-year high of $25.79. The company has a 50-day moving average of $24.05 and a 200-day moving average of $22.40.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm earned $0.15 earnings per share. MDU Resources Group’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that MDU Resources Group Inc. will post $1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 8th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio is -85.23%.
MDU has been the topic of several recent analyst reports. Williams Capital reiterated a “buy” rating on shares of MDU Resources Group in a report on Friday, August 12th. Zacks Investment Research downgraded shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. MDU Resources Group presently has a consensus rating of “Hold” and an average target price of $21.90.
In related news, Director Thomas S. Everist sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $23.44, for a total transaction of $703,200.00. Following the transaction, the director now directly owns 79,572 shares of the company’s stock, valued at $1,865,167.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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